euless corners - euless, tx

EULESS CORNERSEULESS, TX

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2This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

PRICING & FINANCIAL ANALYSIS

Offering Summary

Price $2,975,000

Cap Rate 5.71%

Net Operating Income $169,902

Year Built 1993/2011

Price Per Sq Ft $456.29

Occupancy 100%

Gross Leasable Area 6,520 SF

Lot Size 0.66 Acres

Euless Corners1101 North Main StreetEuless, TX 76039

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PRICING & FINANCIAL ANALYSIS

incOme & expenSeS current pSf

Base Rent - Occupied Space (100%) $169,902 $26.06

Base Rent - Vacant Space (0%) $0 $0.00

GROSS POTENTAL RENT $169,902 $26.06

Exp. Reimb.

Real Estate Taxes $20,400 $3.13

Insurance $4,380 $0.67

CAM $9,900 $1.52

Mgmt. Fee $8,524 $1.31

Total Exp. Reimb. $43,204 $6.63

GROSS POTENTIAL INCOME $213,107 $32.69

Vacancy Factor (economic) 0.00% $0 $0.00

EFFECTIVE GROSS INCOME $213,107 $32.69

Expenses

Real Estate Taxes ($20,400) ($3.13)

Insurance ($4,380) ($0.67)

CAM ($9,900) ($1.52)

Mgmt. Fee (% of GPI) 4.00% ($8,524) ($1.31)

Total Expenses ($43,204) ($6.63)

NET OPERATING INCOME $169,902

expenSeS current pSfReal Estate Taxes $20,400 $3.13

Insurance $4,380 $0.67

CAM

Utilities $5,100 $0.78

Roof & Maintenance $4,800 $0.74

Total CAM $9,900 $1.52

Management Fee (% of GPI) 4.00% $8,524 $1.31

TOTAL EXPENSES $43,024 $6.63

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RENT ROLL

Suite tenant Sq ft% Of Sq ft

Start endannual

rentpSf

eScalatiOn date

eScalatiOn amOunt

OptiOnSleaSe

type

Brident Dental 3,520 54.0% 4/1/2012 3/31/2022 $84,902 $24.12 4/1/2017 $24.72 3 x 5 NNN

Cricket Wireless 1,000 15.3% 1/1/2014 12/31/2018 $22,000 $22.00 1/1/2018 $24.00 1 x 5 NNN

Domino’s 2,000 30.7% 2/1/2015 1/31/2025 $42,000 $21.00 2/1/2020 $23.50 1 x 5 NNN

Bank of America (ATM) 0 2/1/2013 2/28/2023 $21,000 2/1/2018 2 x 5 NNN

Occupied 6,520 100.0% $169,902 $26.06

Vacant 0 0.0%

Total 6,520 100.0%

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TENANT INFORMATION

Brident Dental & Orthodontics is an experienced dental services organization providing comprehensive business support services to affiliated dental offices owned by licensed dentists with convenient locations throughout Texas with a growing network in California and Colorado.

In addition, Brident Dental is affiliated with a dental and oral health maintenance organization that provides dental services in over 180 office locations with over 4,000 team members. Being affiliated with this network of dental offices allows Brident Dental to benefit from high standards of quality of care, first in class training and professional development.

tenant Overview

Tenant Brident Dental

Ownership Private

Number of Locations 180+

Headquarters Orange, CA

Website www.brident.com

Cricket Wireless is a prepaid wireless service provider in the United States of America. Cricket Wireless offers voice, text, and data and is a wholly owned subsidiary of AT&T Inc. At Cricket, consumers can enjoy the benefits of a reliable, nationwide 4G LTE network where you can talk and surf simultaneously, all without an annual contract. Cricket offers consumers a great device line up of GSM phones from Apple, HTC, LG, Microsoft-Lumia, Motorola, Samsung and ZTE and the most popular operating systems, including Android, iOS and Windows Phone.

tenant Overview

Tenant Cricket Wireless

Ownership Public

Years In Business 17 Years

Number of Locations 3,349+

Headquarters Atlanta, GA

Website www.cricketwireless.com

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TENANT INFORMATION

Domino’s is an American restaurant chain and international franchise pizza delivery company. It’s the second-largest pizza chain in the United States and the largest worldwide. In addition to pizza, Domino’s serves an array of foods from baked sandwiches to wings.

tenant Overview

Tenant Domino’s

Ownership Public


Number of Locations 9,000+

Headquarters Ann Arbor, MI

Website www.dominos.com

Bank of America is an American multi-national banking and financial services corporation headquartered in Charlotte, NC. It is the second largest bank holding company in the United States by assets.

tenant Overview

Tenant Bank of America

Ownership Public


Number of Locations 5,151 Retail/16,259 ATMs

Headquarters Charlotte, NC

Website www.bankofamerica.com

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INVESTMENT HIGHLIGHTS

• Pad site to an Albertson’s Grocery Store

• Strong Mix of Complementary Use, Long-Term NNN Leases.

• Recent 2011 Renovation Making This Center the Premier Shopping Location at This Intersection

• Dense Infill Location – Population of Over 195,720 Within a 5-Mile Radius

• Surrounding National Retailers Included Albertson’s, Kroger, Shell, MetroPCS, T-Mobile, Subway, Wingstop and Many More

• Average Household Income is 1.1x the National Average

• Traffic Counts Exceed 15,720 Vehicles Per Day

• Dallas/Fort Worth is One of the Fastest growing MSA’s in the US – Fort Worth is the Country’s Fastest Growing Big City (U.S. Census Bureau)

• DFW International Airport Located Less Than 3 Miles North East of the Property.

• Texas has No State Income Tax

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AERIAL MAP

North Euless Elementary

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LOCAL MAP

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REGIONAL MAP

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MARKET SUMMARY

The city of Fort Worth is often referred to as “Where the West Begins.” Fort Worth is the 17th-largest city in the United States of America and the fifth-largest city in the state of Texas. Located in North Central Texas, and covers nearly 350 square miles (910 km2) in Tarrant, Denton, Parker and Wise counties. According to the 2013 census estimates, Fort Worth had a population of 792,727. The city is also home to Texas Christian University, Texas Wesleyan University, University of North Texas Health Science Center, Texas A&M University School of Law, and many multinational corporations including Bell Helicopter, Lockheed Martin, American Airlines, American Airlines Group (and subsidiaries American Airlines and Envoy Air), the John Peter Smith Hospital, Pier 1 Imports, RadioShack, the BNSF Railway, and Lockheed Martin. In 2013, Fort Worth-Arlington ranked No. 15 on Forbes’ list of the Best Places for Business and Careers.

The Fort Worth Stockyards now celebrates Fort Worth’s long tradition as a part of the cattle industry and was listed on the National Register as a historical district in 1976. The listing included 46 contributing buildings and one other contributing structure.

The Stockyards consist of mainly entertainment and shopping venues that capitalize on the “Cowtown” image of Fort Worth. Home to the famous boot making company M.L. Leddy’s which is located in the heart of the Stockyards and The Maverick Fine Western Wear and Saloon where customers “can ‘belly up’ to the bar, relax and have a cold beer while in the Stockyards; just like they did in the days of the big cattle drives”, as they shop around the store. Many bars and nightclubs (including Billy Bob’s Texas) are located in the vicinity, there is also an opry and a rodeo.

FORT WORTH, TX

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DEMOGRAPHIC SUMMARY

PoPulation

HouseHolds

income

Race and etHnicity

Housing

emPloyment

Geography: 5 miles

In the identified area, the current year population is 195,720. The rate of change since 2000 was 10.2%. The five-year projection for the population in the area is 206,345 representing a change of 5.15% from 2015 to 2020. Currently, the population is 49.2% male and 50.8% female. The median age in this area is 34.8, compared to the U.S. median agoe of 37.9.

There are currently 83,708 households in your selected georgraphy. The number of households has changed by 10.4% since 2000. It is estimated that the number of households in your area will be 88,274 five years from now, which represents a change of 5.17% from the current year. The average household size in your area is 2.33 persons.

In 2015, the median household income for your selected georgraphy is $56,142, compare this to the Entire U.S. average, which is currently $53,217. It is estimated that the median household income in your area will be $64,088 five years from now, which represents a change of 12.4% from the current year.

The current year per capita income in your area is $34,446, compare this to the Entire U.S. average, which is $28,597. The current year average household income in your area is $80,384, compare this to the Entire U.S. average, which is $74,699.

The current year racial makeup of your selected area is as follows: 64.5% White, 14.3% Black, 0.6% Native American and 9.6% Asian/Pacific Islander. Compare these to the Entire U.S. Averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 20.6% of the current year population in your selected area. Compare this to the Entire U.S. average of 17.6%.

In 2015, there were 36,549 owner occupied housing units in your area and there were 47,159 renter occupied housing units in your area. Median home value in the area is $245,839.

In 2015, there are 113,390 employees in your selected area, this is also known as the daytime population. Currently, 68.6% of employees are employed in white-collar occupations in this geography, and 17.4% are employed in blue-collar occupations. In 2015, unemployment in this area is 4.0%.

Demographic data © 2015 esri

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DEMOGRAPHIC STATISTICS

traffic cOuntS

incOme 1 mile 3 mileS 5 mileS

$ 0 - $14,999 6.5% 8.0% 7.9%

$ 15,000 - $24,999 10.4% 9.3% 9.6%

$ 25,000 - $34,999 11.4% 11.2% 10.9%

$ 35,000 - $49,999 15.5% 14.9% 15.8%

$ 50,000 - $74,999 24.1% 18.7% 17.8%

$ 75,000 - $99,999 15.5% 14.3% 12.8%

$100,000 - $149,999 12.7% 15.0% 13.9%

$150,000 - $199,999 2.4% 4.1% 5.3%

$200,000 + 1.6% 4.6% 6.0%

2015 Median Household Income $54,489 $56,702 $56,142

2015 Per Capita Income $29,050 $33,156 $34,446

2015 Average Household Income $65,003 $76,240 $80,384

pOpulatiOn 1 mile 3 mileS 5 mileS

2000 Population 18,140 74,035 175,836

2010 Population 19,983 84,588 187,955

2015 Population 21,249 89,728 195,720

2020 Population 22,663 95,223 206,435

HOuSeHOldS 1 mile 3 mileS 5 mileS

2000 Households 7,952 31,830 75,028

2010 Households 8,808 36,558 80,321

2015 Households 9,475 38,918 83,708

2020 Households 10,172 41,389 88,274

2015 Daytime Population 12,151 52,573 113,390

2015 Average Household Size 2.24 2.30 2.33

2010 Owner Occupied Housing Units 38.1% 43.6% 50.0%

2010 Renter Occupied Housing Units 55.0% 48.6% 50.0%

2010 Vacant 6.8% 7.8% 7.9%



2015 Vacant 4.9% 6.2% 7.4%



2020 Vacant 4.2% 5.6% 7.0%15

,720

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Vitorino Group and it should not be made available to any other person or entity without the written consent of Vitorino Group. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to Vitorino Group.

This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Vitorino Group has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, Vitorino Group has not verified, and will not verify, any of the information contained herein, nor has Vitorino Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE VITORINO GROUP AGENT FOR MORE DETAILS.

CONFIDENTIALITY AGREEMENT

Vitorino Group hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, the Vitorino Group has not and will not verify any of this information, nor has the Vitorino Group conducted any investigation regarding these matters. The Vitorino Group makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. The Vitorino Group expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release The Vitorino Group and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

Net Lease Disclaimer

Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker

who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an

Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Information About Brokerage Services

intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:

With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.

If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

(1) shall treat all parties honestly;(2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner;(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and(4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

exclusively listed

469.844.8880 | VITORINOGROUP.COM

euless corners - euless, tx

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